NMB’s gender parity gets global recognition

Dar es Salaam. NMB Bank has obtained the Economic Dividends for Gender Equality (Edge) certification, demonstrating its commitment to advancing gender parity in Tanzania and across the globe.

The bank has become Africa’s first financial institution to be awarded the edge certificate which was introduced 11 years ago by the edge certified foundation.

Launched at the World Economic Forum (Wef) in 2011, the edge is the leading global assessment methodology and business certification standard for evaluating corporate commitment to gender equality.

Speaking at the event, NMB’s chief human resources officer Emmanuel Akonaay said the bank has also become the first organisation in Sub-Saharan Africa to earn the certification. The certification, he said, recognises the bank’s people and diversity, equity and inclusion strategic commitment.

According to him, NMB’s gender parity commitment has been measured in terms of policies and practices across five key areas including equal pay for equivalent work, recruitment and promotion, leadership development training and mentoring, flexible working as well as organisational culture.

“This is the first time an African financial institution is awarded the edge assess certification,” Mr Akonaay said.

Edge says that failure of the world to close the gender gap will result into loss of $12-$28 trillion of economic potential by 2025.

“Companies with better gender balance are always successful commercially and operationally,” Mr Akonaay noted.

He said studies have proved beyond doubt that eliminating corporate gender gaps spurs innovation and growth, supports productive activities and leads to financial stability and income equality. Gracing the certificate handover event, the IFC Tanzania’s resident representative Frank Ajilore said workplace gender equality was a pivotal development ingredient at the corporate and national economy levels.

He said the World Bank affiliate will continue to support gender parity sensitive organisations like NMB whose edge assessment certification is the first step towards total elimination of all forms of gender discrimination in the workplace.

“We are delighted that NMB Bank, an IFC Finance2Equal partner, has become Africa’s first financial institution to be awarded edge certificate, enabling it to deliver greater business impacts and servicing as a role model for others to follow,” Mr Ajilore noted.